Debt ReductionThe Company is planning to use the proceeds primarily for debt reduction, resulting in a pro forma net debt/EBITDA ratio expected to be within 2.5-3.0x, down from current levels of 6.0x.
Financial PerformanceSun Communities, Inc. increased its price objective to $132 to reflect an improved balance sheet following smart capital allocation decisions with the Safe Harbor sale proceeds.
Occupancy RatesSun Communities, Inc. reported a stronger performance in the manufactured housing sector with improved occupancy rates, reaching 99% across its MH and RV portfolios.